The Washington Post comments: "Hong Kong television commentator Wu Jun observed recently that despite Donald Trump's anti-Beijing rhetoric, he 'could in fact be the best president for China.' The Chinese analyst is right: A Trump presidency could open the way for China's strategic dominance in Asia and elsewhere....His policies would play into China's narrative about the world — and undermine the foundations of U.S. power in Asia, even as they are bolstering a rising China....Trump's 'America First' policies would reinforce the drift away from U.S. global leadership — in ways that would benefit China. The most obvious example is Trump's disparagement of the trade deal known as the Trans-Pacific Partnership (though he's hardly the only miscreant here)....Trump's call to 'Make America Great Again' is incoherent because it is accompanied by inward-looking, reactive policies. Like Trump's own businesses, it's more a franchising operation than a plan for real investment and growth. Trump may indeed have a formula for greatness — but the 'winner' in this story would likely be Beijing."
The New York Times reports: "China's president, Xi Jinping, met with a senior envoy from North Korea here on Wednesday, in what appeared to be a slight thaw in a bilateral relationship that has been strained by Beijing's concerns about the North's nuclear weapons program. Mr. Xi greeted the envoy, Ri Su-yong, the day after North Korea tried unsuccessfully to fire an intermediate-range ballistic missile....In the meeting with Mr. Ri, Mr. Xi seemed to strike a positive tone, telling him that China 'attached great importance to developing a friendly relationship with North Korea' and was seeking 'calm' on the Korean Peninsula, China's state-owned news agency, Xinhua, said Wednesday evening....The surprise meeting is believed to have been the first encounter between Mr. Xi and a senior North Korean official since 2013, when he met with Choe Ryong-hae, who was then a special envoy of the Workers' Party in the North."
Reuters reports: "U.S. stocks pared losses on Wednesday after encouraging factory data, but remained lower, with falling oil prices weighing on energy companies and financials retreating as chances of a rate hike this month ebbed on weak China data. China's official factory activity gauge expanded only marginally in May, data showed, while a private survey showed conditions deteriorated for a fifteenth straight month, kindling fears of a global slowdown....Data showed that while U.S. manufacturing activity expanded for a third straight month in May, growth in new orders continued to slow. But, construction spending recorded its biggest decline in more than five years in April as spending fell broadly, which could prompt economists to lower their second-quarter growth estimates."